WTW has purchased Detroit-based Global Commercial Credit (GCC), a broker specialising in credit and political risk insurance.  

WTW says in an April 1 statement that the acquisition “provides geographic expansion in a key growth area of the North American market”. The value and terms of the deal were not disclosed.  

As part of the acquisition, London-headquartered WTW will also acquire GCC sister company ProfitGuard, a credit risk monitoring service which the broker says “can be scaled to provided added value for Willis’ global clients”.  

The ProfitGuard brand will remain but the existing GCC team will be folded into Willis, WTW’s broking arm, says Todd Lynady, head of financial solutions for North America

Lynady tips demand for trade credit insurance to grow in the US and Canada “given the ongoing global uncertainty – whether from tariffs, trade tensions, or the risk of recession”, as well as from increasing use by banks.  

But he tells GTR that the uncertain political and economic climate did not factor into WTW’s decision to buy GCC. 

Evan Freely, WTW’s global head of financial solutions, says GCC “is a highly specialised business with a strong trade credit market penetration throughout the nation”. 

Scott Burnett, head of corporate mergers and acquisitions for WTW’s risk and broking business, says the deal “significantly enhances our scale and growth potential for our credit and political risk business in North America”.  

“It also diversifies our client base across industries, strengthens our sales capabilities nationwide and opens opportunities to introduce complementary products to WTW’s global clients,” he adds.  

“With this deal, Willis will become one of North America’s leading trade credit insurance specialists, with deep financial institution and industry expertise.” 

This story was updated in April 3 to correct that GCC is based in Detroit, not Chicago.